Businesses need to master the rules of product origin

Update: 18-06-2021 | 17:32:27

The Ministry of Industry and Trade has issued Circular 02/2021/TT-BCT stipulating the rules of origin of goods in Free Trade Agreement between Vietnam and the United Kingdom of Great Britain and Northern Ireland (UKVFTA). The circular states that, in order to enjoy tariff preferences under UKVFTA, proof of origin must be submitted to the Vietnamese customs authority within 2 years from the time of importation. The customs authority may require a translation if the proof of origin is not in English.

According to this circular, if Vietnam's exports that are shipment worth less than 6,000 Euros, any exporter is allowed to self-certify origin; shipment valued at over 6,000 Euros, the C/O mechanism shall be applied by agencies and organizations authorized by Ministry of Industry and Trade. For goods imported into Vietnam with shipments valued at less than 6,000 Euros, any exporter is allowed to self-certify origin; for shipments valued at more than 6,000 Euros, only exporters that are eligible under UKVFTA regulations can self-certify their origin. Exporters self-certify the origin of goods according to regulations when the goods are of Vietnamese origin and meet other regulations of UKVFTA.

The exporter self-certifies the origin of the goods on its invoice, delivery note or other commercial document with sufficient information about the goods, by typing, stamping or printing the declaration of origin of the goods on vouchers... Circular No. 02/2021/TT-BCT takes effect from July 26th 2021.

Reported by Khai Anh - Translated by Ngoc Huynh

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Businesses need to master the rules of product origin

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